Portland-based forestry investment and management firm EFM has entered into a long-term agreement with Meta, Facebook’s parent company, to manage 68,000 acres of forestland on the North Olympic Peninsula.

The deal, according to a press release, will support the transition of the forest to “climate-smart management” with the goal of removing more than one million tonnes of carbon emissions by 2035. The property is estimated to store more than 10 million tonnes of carbon dioxide. 

EFM purchased the land from Rayonier, Inc for more than $200 million under a newly established entity called Olympic Rainforest LLC.

Rayonier announced in November that it planned to divest about 109,000 acres on the peninsula. Plans for the remaining 41,000 acres was unclear at press time. Of the 68,000 acres sold, an estimated 31,000 acres are in Jefferson County with the rest in Clallam County. 

“This long-term contract enables us to manage forests for their greatest value to society — producing high-quality timber, creating diverse, healthy habitats for wildlife and recreation, and collaborating with tribes to restore salmon populations — all while significantly increasing carbon storage,” said EFM CEO Bettina von Hagen.

“We’re deeply grateful to Meta for recognizing the critical role forests play in addressing climate challenges and for sharing our vision of high-quality carbon projects that enhance the long-term value of our forests.”

The property, which spans Clallam and Jefferson counties, is adjacent to Olympic National Park and has been primarily used for timber production for over 80 years, von Hagen said. 

EFM’s climate-smart forestry approach focuses on extending tree rotation times, retaining more trees on the landscape, investing in forest reserves, restoring ecosystems and fostering strong community relationships while diversifying revenue streams to include carbon credits, according to its website. It combines timber production with revenues from carbon sequestration, conservation, recreation and biodiversity. 

The property in question is one of the best-remaining strongholds for wild salmon and steelhead in the United States, said Guido Rahr, the president and CEO of Wild Salmon Center.

“The property provides a crucial habitat connection between upland salmon spawning streams and the ocean,” he said. “The Wild Salmon Center has been working closely with EFM for several years now, supporting restoration efforts on their existing properties on the Olympic Peninsula. We were very happy to continue that work on these new lands, which represent an exciting opportunity to scale our impact and build greater climate resilience for wild salmon and steelhead.” 

In partnership with state and tribal agencies, EFM plans to provide free public access to the newly acquired forest.